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August 17, 2011
Madoff trustee adds claims in $2 billion UBS lawsuit
The trustee seeking money for victims of Bernard Madoff's fraud on Wednesday filed an amended lawsuit seeking at least $2 billion from UBS AG and related defendants.
Irving Picard, the trustee, accused the Swiss bank of intentionally misleading a Luxembourg securities regulator as well as the U.S. Securities and Exchange Commission about its ties to Madoff.
UBS and other banks including JPMorgan Chase & Co and HSBC Holdings Plc have questioned Picard's authority to bring many of his claims.
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